Auto Shop with Drive-Through
For Sale
$1,150,000
1021 15th St N, Great Falls, MT 59401
Air-conditioned office and reception areas complement a functional shop with fenced rear access.
Property Size8,304 SF
Lot Size0.62 Acres
Price / SF$138.49
Days on Market16
Property Features for 1021 15th St N
General Information
Standard status
Active
Size
8,304 SF
Lot size
0.62 Acres
Additional Details
Fenced Yard
Yes
Building Details
Year Built
1973
Buildings
1
Listing Agency:
Montana's Best Realty
(406) 899-0857
Listed By:
Robin McKnight · License #RRE-RBS-LIC-17672
Source:
Mtranchsales
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 11:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Montana's Best Realty
Investment Insights
Based on property information with market context.
This auto shop property includes a 7,460-square-foot service area with drive-through doors leading to a fenced rear lot. The building also provides an updated, air-conditioned office area and an adjoining reception space with a television for customer waiting. Shop equipment includes multiple heaters, including an oil burner, two hoists, a 15-horsepower compressor, a downdraft paint booth, and two air-filtration systems. Certain equipment may be negotiated into the contract.
The property encompasses 0.62 acres at 1021 15th St N in Great Falls, Montana. Built in 1973, the building previously operated as an auto body and mechanic facility and offers a layout that can be adapted to future operational requirements. The total property size is listed as 8,304 square feet.
The property encompasses 0.62 acres at 1021 15th St N in Great Falls, Montana. Built in 1973, the building previously operated as an auto body and mechanic facility and offers a layout that can be adapted to future operational requirements. The total property size is listed as 8,304 square feet.
Key Highlights
- 7,460‑square‑foot shop on a 0.62‑acre property
- Drive‑through shop doors provide access to the fenced back lot
- Updated, air‑conditioned office with adjoining reception area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$90,872
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,817,440
$1.8M
Cap Rate 7%
$1,298,171
$1.3M
Cap Rate 9%
$1,009,689
$1.0M
Market Conditions
NOI Build-Up for 8,304 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$134.5K $16.20/SF
− Vacancy
−$4.7K −$0.57/SF
EGI
$129.8K $15.63/SF
− OpEx
−$38.9K −$4.69/SF
NOI
$90.9K $10.94/SF
Area
Cascade County, MT
Vacancy
3.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,817,440
Cap Rate 7%
$1,298,171
Cap Rate 9%
$1,009,689
Alternative Uses
Best Use
Retail
$1.30M
$1.14M – $1.51M
NOI $90,872 @ 7.0% cap · market cap 7.90%
Second Best
Industrial
$605.6K
$529.9K – $706.6K
NOI $42,393 @ 7.0% cap · market cap 3.69%
Theoretical Best
Specialty Retail
$1.62M
$1.41M – $1.89M
NOI $113,123 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59401, MT
13,030
Population
6,921
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
3.0 sq mi
ZIP Area
4,343
Density / Sq Mi
$53,750
Median Household Income
$33,209
Median Earnings
$767
Median Rent
$206,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Air-conditioned office and reception areas complement a functional shop with fenced rear access.
Where is this auto shop located?
The property is located at 1021 15th St N Great Falls, MT.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 7,460‑square‑foot shop on a 0.62‑acre property; Drive‑through shop doors provide access to the fenced back lot; Updated, air‑conditioned office with adjoining reception area
